- The most recent jobs report showed that between October and November, Maryland added 7,900 Total Nonfarm positions, including 7,400 Total Private jobs and 500 Government jobs.
- Maryland’s largest employment gains were made in the Professional and Business Services supersector which rose by 4,700 positions, followed by an increase of 2,300 positions in the Leisure and Hospitality supersector.
- The unemployment rate for Maryland was 4.0 percent in November, a slight decrease from October’s figure of 4.1 percent.
On the supersector level, the greatest job gains were in Professional and Business Services which rose by 4,700 positions, followed by Leisure and Hospitality which added 2,300 jobs. Employment increases were also seen in Education and Health Services (+1,600); Trade, Transportation, and Utilities (+1,400); Information (800); and Government (+500). Declines on the supersector level were largest in Manufacturing (-1,200) and Other Services (-1,200). Maryland’s greatest subsector-level gains were in Administrative and Support and Waste Management and Remediation Services which increased by 4,100 jobs. The Other Services subsector had the greatest drop of 1,200 jobs, followed by Durable Goods with a decline of 900 positions.
Neighboring states in the Mid-Atlantic region (Virginia, Pennsylvania, Delaware, and Washington, D.C.) lost a net of 200 Total Nonfarm jobs, including a decline of 2,000 Total Private jobs and an increase of 1,800 Government jobs. Neighboring states’ largest gains on the supersector level were in Mining, Logging, and Construction (+2,400); Government (+1,800); and Financial Services (+900). The greatest losses were in the Manufacturing supersector which declined by 1,900 positions, and Education and Health Services, which posted a loss of 1,600 jobs. The unemployment rate for neighboring states in November remained at 3.7 percent, unchanged from October.
The Federal Reserve Bank of Richmond, which covers the Fifth District (including the state of Maryland), reported that labor demand has continued to increase, and not just for seasonal holiday workers. According to the Richmond Fed, staffing agencies are reporting significant difficulty filling positions, with some of these shortages negatively impacting businesses’ operations. Despite these persistent hiring issues, wages have not risen substantially with increases being reported as “modest.” The Manufacturing sector, which tied for largest decline by supersector in Maryland during November with a decrease of 1,200 jobs, had varying reports within the Fifth District. While tariff worries and increased raw input prices are persistent issues, some firms reported unexpected increases in demand. In the housing market, residential loan demand and home sales increased slightly, however the sale rate has been reported as “a little less consistent,” most likely due to increasing mortgage rates. Commercial construction rates also showed more growth compared to that of residential new construction.
To make more sense of what’s happening with Maryland’s employment numbers, we’ve embedded our new tool: the Mid-Atlantic Regional Employment Workbook. This dashboard allows you to examine 29 different industries and see how employment is varying in Maryland as well as four other states in the Mid-Atlantic region. To use the dashboard select a sector of the economy that interests you from the dropdown at the top. When you change the sector of interest, the map and five line graphs will update to reflect historical data for that industry. Want to know how employment changed in the sector last month? Hover over each state in the map for percentage changes. Or hover over the line graphs to get more detailed information on the number of employees each month since January 2016 by state.
Mid-Atlantic Regional Employment Workbook
About the Authors
Daraius Irani, Ph.D.
Daraius Irani, Ph.D. serves as vice president of Strategic Partnerships and Applied Research. He fosters the development of partnerships between business, government, and education that contributes to the economic vitality of our region. He also serves as chief economist at the Regional Economic Studies Institute and is often called on by state agencies, private companies, and local governments to provide insight on proposed policies, development, and economic forecasting. Read Daraius’s Posts
Katie Menking serves as economist at the Regional Economic Studies Institute. She has numerous roles, including primary and secondary data collection and analysis, methodology design, and report writing and editing. Katie is a primary author of Eye on the Economy, RESI’s monthly analysis of unemployment data. Read Katie’s Posts